Using a realistic evaluation of the likely develop-ment of commercial nuclear power, it is projected that some 428 000 MW(electric) of capacity will be in operation by the year 2000 in noncommunist countries. The availability of fissile material to support this program primarily hinges on the viability of two main industries, namely, the production of natural uranium and enrichment. The demand for natural uranium corresponding to this nuclear program is projected to amount to some 940 000 metric tons of uranium (MTU) through the end of the century. Currently defined reserves in the lower cost of recovery category (i.e., up to $80/kgU) amount to 1.75 million MTU so that such reserves can more than adequately cover needs. When the category of reasonably assured resources of some 550 000 MTU are also taken into account, needs can be covered well into the first half of the next century. There is currently a significant overcapacity for the mining and milling of uranium, and presently definable capacity should be able to meet the annual demand on a worldwide basis until the mid-1990s. However, buyer purchasing strategies and the level of prices will be important to ensure that production will remain or be made available when needed. The demand for enrichment services by the year 2000 will amount to some 47 000 metric tons of separative work units (MTSWU)/yr. Production capacity in operation, under construction, and firmly planned will have attained 45 400 MTSWU/yr by 1990. Further expansion of capacity is possible with very modest lead times. Only a very small increase in capacity would in principle be needed to cover demand in excess of the then existing capacity in the last two or three years of the 1990s. Demand could also be met by a very limited amount of preproduction from the excess capacity of previous years. Because of supply diversification considerations on the part of buyers, there will undoubtedly be further, though probably modest, expansion in supply capacity in the 1990s.